---
title: "Sirpur Paper Mills Ltd (SIRPAPER) — Share Price, Financials & Analysis"
symbol: "SIRPAPER"
company: "Sirpur Paper Mills Ltd"
canonical: "https://tapetide.com/stocks/SIRPAPER"
sector: "Commodities"
industry: "Paper, Forest & Jute Products"
generated_at: "2026-09-13T18:26:28.440Z"
---

# Sirpur Paper Mills Ltd (SIRPAPER)

Canonical page: https://tapetide.com/stocks/SIRPAPER

## Company

- **Sector:** Commodities
- **Industry:** Paper, Forest & Jute Products
- **Macro Sector:** Commodities
- **Stock Type:** EQUITY
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** sirpurpaper.com

## About

Sirpur Paper Mills Ltd is an Indian integrated paper manufacturing company. The company is engaged in the production of varieties of paper and board.

## Latest Price

## Key Insights

### Strengths

- Company has reduced debt.
- Stock is trading at 0.10 times its book value

### Weaknesses

- Company has low interest coverage ratio.
- Company might be capitalizing the interest cost

## Growth Rates

| Metric | 1Y | 5Y |
| --- | --- | --- |
| net income growth | 75% | 13% |
| revenue growth | — | -70% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2013 | Jun 2013 | Sep 2013 | Dec 2013 | Mar 2014 | Jun 2014 | Sep 2014 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 103 | 99 | 101 | 109 | 114 | 107 | 86 |
| Expenses | 106 | 105 | 117 | 113 | 110 | 112 | 109 |
| Operating Profit | -3 | -6 | -16 | -4 | 4 | -4 | -23 |
| OPM % | -2.8 | -6 | -16 | -3.5 | 3.8 | -4 | -27 |
| Other Income | 1 | 0 | 1 | 0 | 0 | 0 | 0 |
| Interest | 8 | 10 | 10 | 11 | 10 | 11 | 12 |
| Depreciation | 7 | 7 | 7 | 7 | 7 | 5 | 5 |
| Profit before tax | -17 | -23 | -33 | -22 | -13 | -21 | -40 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Profit | -17 | -23 | -33 | -22 | -13 | -21 | -40 |
| EPS in Rs | -10.33 | -14.06 | -19.42 | -12.92 | -7.61 | -12.16 | -23.47 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2018 | Mar 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 242 | 243 | 346 | 335 | 365 | 390 | 354 | 420 | 0 | 1 |
| Expenses | 216 | 217 | 300 | 296 | 329 | 350 | 392 | 445 | 32 | 6 |
| Operating Profit | 25 | 26 | 47 | 40 | 35 | 39 | -38 | -24 | -32 | -5 |
| OPM % | 11 | 11 | 13 | 12 | 10 | 10 | -11 | -6 | — | -501 |
| Other Income | 5 | 9 | 12 | 13 | 12 | 11 | 9 | 10 | 2 | 1 |
| Interest | 5 | 6 | 32 | 34 | 35 | 42 | 45 | 48 | 0 | 2 |
| Depreciation | 10 | 12 | 28 | 30 | 30 | 30 | 29 | 29 | 16 | 6 |
| Profit before tax | 15 | 17 | -1 | -10 | -18 | -22 | -103 | -91 | -46 | -12 |
| Tax % | 13 | -94 | 23 | 13 | -1 | -22 | -5 | 0 | 0 | 0 |
| Net Profit | 13 | 33 | -2 | -12 | -18 | -17 | -97 | -91 | -46 | -12 |
| EPS in Rs | — | — | — | — | -11.28 | -10.9 | -59.08 | -53.56 | -27.29 | -6.88 |
| Dividend Payout % | 39 | 16 | -137 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2018 | Mar 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 15 | 15 | 15 | 15 | 16 | 16 | 16 | 17 | 17 | 182 |
| Reserves | 223 | 246 | 239 | 225 | 208 | 189 | 89 | -3 | -267 | -7 |
| Borrowings | 247 | 273 | 300 | 297 | 281 | 310 | 348 | 382 | 370 | 213 |
| Other Liabilities | 116 | 105 | 123 | 111 | 119 | 122 | 143 | 169 | 168 | 33 |
| Total Liabilities | 600 | 639 | 677 | 647 | 624 | 637 | 595 | 565 | 288 | 420 |
| Fixed Assets | 220 | 269 | 516 | 510 | 483 | 448 | 418 | 399 | 250 | 75 |
| CWIP | 263 | 276 | 23 | 7 | 5 | 10 | 9 | 0 | 0 | 276 |
| Investments | 3 | 4 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 114 | 90 | 138 | 130 | 135 | 178 | 168 | 166 | 39 | 70 |
| Total Assets | 600 | 639 | 677 | 647 | 624 | 637 | 595 | 565 | 288 | 420 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2018 | Mar 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 33 | 49 | 30 | 33 | 47 | 0 | -9 | -1 | -1 | -61 |
| Cash from Investing Activity | -158 | -78 | -19 | -9 | -6 | -2 | -5 | -2 | 0 | -96 |
| Cash from Financing Activity | 136 | 19 | -6 | -31 | -37 | -1 | 13 | 1 | 1 | 166 |
| Net Cash Flow | 11 | -10 | 5 | -7 | 4 | -3 | 0 | -2 | 0 | 9 |
| Free Cash Flow | -139 | -29 | 6 | 24 | 41 | -2 | -8 | -3 | -1 | -158 |
| CFO/OP | 134 | 178 | 67 | 84 | 134 | 0 | 28 | 4 | 3 | 1290 |

### Ratios

| Item | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2018 | Mar 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 24 | 35 | 64 | 53 | 54 | 59 | 65 | 52 | — | 0 |
| Inventory Days | 156 | 111 | 154 | 158 | 76 | 113 | 86 | 74 | — | 13365 |
| Days Payable | 263 | 278 | 310 | 231 | 117 | 139 | 169 | 151 | — | 6166 |
| Cash Conversion Cycle | -82 | -132 | -92 | -19 | 13 | 32 | -17 | -26 | — | 7199 |
| Working Capital Days | 2 | -20 | 13 | 28 | 49 | 68 | 51 | 19 | — | 7346 |
| ROCE % | 5 | 4 | 5 | 4 | 3 | 4 | -12 | -10 | — | -4 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 |
| --- | --- | --- |
| Promoters | 49.91% | 49.91% |
| DIIs | 9.72% | 9.72% |
| Government | 1.37% | 1.37% |
| Public | 39.01% | 39.01% |
| No. of Shareholders | 8509 | 8527 |

### Quarterly

| Category | Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 49.91% | 49.91% | 49.91% | 49.91% | 49.91% | 49.91% | 49.91% | 49.91% |
| DIIs | 9.97% | 9.72% | 9.72% | 9.72% | 9.72% | 9.72% | 9.72% | 9.72% |
| Government | 1.37% | 1.37% | 1.37% | 1.37% | 1.37% | 1.37% | 1.37% | 1.37% |
| Public | 38.75% | 39.01% | 39.01% | 39.01% | 39.01% | 39.01% | 39.01% | 39.01% |
| No. of Shareholders | 8514 | 8508 | 8510 | 8509 | 8509 | 8509 | 8518 | 8527 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 6 / 1 / 12

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 17.89 | Sell |
| EMA (10) | 17.74 | Sell |
| SMA (20) | 20.04 | Sell |
| EMA (20) | 19.24 | Sell |
| SMA (50) | 21.76 | Sell |
| EMA (50) | 21.3 | Sell |
| SMA (100) | 23.69 | Sell |
| EMA (100) | 23.51 | Sell |
| SMA (200) | 27.84 | Sell |
| EMA (200) | 26.44 | Sell |

### Oscillators — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 28.28 | Buy |
| MACD (12,26,9) | -1.71 | Sell |
| Stochastic (14,3,3) | 4 | Buy |
| ADX (14) | 35.44 | Buy |
| Williams %R (14) | -100 | Buy |
| ATR (14) | 0.85 | High Volatility |
| ROC (12) | -24.64 | Sell |
| Stoch RSI (14) | 14.65 | Buy |
| UO (7,14,28) | 20.81 | Buy |

## Filings & Documents

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2013 from nse](https://archives.nseindia.com/annual_reports/AR_2108_SIRPAPER_2012_2013_27092013113735.zip) |
| from nse | [Annual Report 2010 from nse](https://archives.nseindia.com/annual_reports/AR_SIRPAPER_2009_2010_20092010120000.zip) |
| from bse | [Annual Report 2014 from bse](https://www.bseindia.com/bseplus/AnnualReport//5024550314.pdf) |
| from bse | [Annual Report 2013 from bse](https://www.bseindia.com/bseplus/AnnualReport//5024550313.pdf) |
| from bse | [Annual Report 2012 from bse](https://www.bseindia.com/bseplus/AnnualReport//5024550312.pdf) |
| from bse | [Annual Report 2011 from bse](https://www.bseindia.com/bseplus/AnnualReport//5024550311.pdf) |
| from bse | [Annual Report 2010 from bse](https://www.bseindia.com/bseplus/AnnualReport//5024550310.pdf) |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:26:28.440Z.